DENISE CRUZ PONTIPEDRA

BS CRIM 2-1B

Globalization is the process by which ideas, knowledge, information,  goods and

services spread around the world. In business, the term is used in an economic
context to describe integrated economies marked by free trade, the free flow of
capital among countries and easy access to foreign resources, including labor
markets, to maximize returns and benefit for the common good.

Globalization, or globalisation as it is known in some parts of the world, is driven by

the convergence of cultural and economic systems. This convergence promotes --
and in some cases necessitates -- increased interaction, integration and
interdependence among nations. The more countries and regions of the world
become intertwined politically, culturally and economically, the more globalized the
world becomes. 
Globalization is the process by which ideas, knowledge, information,  goods and
services spread around the world. In business, the term is used in an economic
context to describe integrated economies marked by free trade, the free flow of
capital among countries and easy access to foreign resources, including labor
markets, to maximize returns and benefit for the common good.
Globalization, or globalisation as it is known in some parts of the world, is driven by
the convergence of cultural and economic systems. This convergence promotes --
and in some cases necessitates -- increased interaction, integration and
interdependence among nations. The more countries and regions of the world
become intertwined politically, culturally and economically, the more globalized the
world becomes. 

In a globalized economy, countries specialize in the products and services they have
a competitive advantage in. This generally means what they can produce and
provide most efficiently, with the least amount of resources, at a lower cost than
competing nations. If all countries are specializing in what they do best, production
should be more efficient worldwide, prices should be lower, economic growth
widespread and all countries should benefit -- in theory.
Policies that promote free trade, open borders and international cooperation all drive
economic globalization. They enable businesses to access lower priced raw
materials and parts, take advantage of lower cost labor markets and access larger
and growing markets around the world in which to sell their goods and services.
Money, products, materials, information and people flow more swiftly across national
boundaries today than ever. Advances in technology have enabled and accelerated
this flow and the resulting international interactions and dependencies. These
technological advances have been especially pronounced in transportation
and telecommunications.
Among the recent technological changes that have played a role in globalization are
the following:

Internet and internet communication. The internet has increased the sharing and flow
of information and knowledge, access to ideas and exchange of culture among
people of different countries. It has contributed to closing the digital divide between
more and less advanced countries.
Globalization changes the way nations, businesses and people interact. Specifically,
it changes the nature of economic activity among nations, expanding trade, opening
global supply chains and providing access to natural resources and labor markets.
Changing the way trade and financial exchange and interaction occurs among
nations also promotes the cultural exchange of ideas. It removes the barriers set by
geographic constraints, political boundaries and political economies.